Spain’s econ­omy look­ing good

China Daily (Hong Kong) - - BUSINESS -

Spain’s econ­omy will grow by 3.3 per­cent this year, up from the pre­vi­ously pre­dicted 3.0 per­cent, ac­cord­ing to a re­port pre­sented on Wed­nes­day by Spain’s sec­ond-big­gest bank, BBVA. It said next year the Span­ish econ­omy will grow by 2.8 per­cent, as op­posed to the pre­vi­ously pre­dicted 2.7 per­cent. Rafael Domenech, from BBVA Re­search, said the lat­est data pointed to a “good per­for­mance” from the Span­ish econ­omy. He said that em­ploy­ment, dis­pos­able in­come, con­sol­i­da­tion of the real es­tate sec­tor, and ex­ports had helped boost the coun­try’s growth. Ac­cord­ing to BBVA Re­search, em­ploy­ment will rise by 2.9 per­cent in 2017, im­pact­ing on the coun­try’s un­em­ploy­ment rate, which will fall to 17.1 per­cent this year and to 15.3 per­cent in 2018. Domenech said it was pos­si­ble to re­duce the un­em­ploy­ment rate to 11 per­cent by 2020, as the Span­ish gov­ern­ment hopes, point­ing out that short-term jobs should be re­duced.

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